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Ilovelithium - you need to read Leo Lithium's series of RNS.

They messed up.

If you read it properly it is mostly there.

Nothing I can see to do with Mali or any other government - looks pretty stupid.

They did not even complete the government's royalty papers and were about to ship ore for sale.

Onlyking, right at the very bottom of the page and list:

https://kodalminerals.com/the-company/focus-strategy/

Clapa, this is my interpretation of the 'debt'.

Kodal loaned money to their mining company to develop Bougouni. Upon mining this debt would be repaid to Kodal. Therefore this debt would need restructuring.

I believe that is the 5.8m dollars, I am uncertain how the West Bougouni 2m dollars payment will be handled.

It is similar to structures in this country, when a sole trader goes limited, all of the assets within the business are valued and structured as 'debt', this enables the proprietor to remove his initial investment value out of the limited company and not be taxed as earnings.

I tell you, the work they are completely is complex. It is a massive task.

Ivenoidea, personally I have no issue with the extension of time if the potential investment upside keeps growing as it is.

It is very easy to highlight the time taken to do this but many conveniently forget the 680 dollars per tonne and the amazing 20m tonne jorc back then which we were aiming for.

We have no idea where the jorc will top out and the dollars per tonne over four times what we dreamt of is incredible.

We need to get our feet back on the ground.

Bumpingalong, I agree short term share price predictions are not for me. Fraught with danger.

But it is other people's bread and butter.

Bumpingalong, with such a short period until production a resource upgrade due within months and a maiden value gold play almost complete unless the share price went stupid it would be risky to sell.

A long term holders window can now be measured in months rather than years depending upon their own personal targets.

Agree sharespy.

Additional confidence can be gained from the geological and laboratory sampling which has brought detail right down to identifying fine and course grain spodumene and using the most appropriate type of production plant for each.

Raises confidence when the plant fires up.

Glen, Mali pass a new mining code but this has no impact.

The decrees follow later on and it is these which dictate where they are applied.

But nothing in this new code if applied makes much difference to us.

If the government bought maximum share, we end with more millions in our Kodal bank account, they have to pay more than Hainan because it is post funding and into production.

Some people may argue it is better if they bought in. Cash in bank and government with a stake.

The rest of it is insignificant.

Onlyking, potentially we don't have a complete list.

That said ourselves and still Leo Lithium were happy to go straight to flotation plant, so we may never know.

In the same way we don't have a complete list of what Suay Chin have to give us as part of their offtake.

Clapa will you lose sleep if they miss out?

Not me 💤

MarcusPD, every company has to fund a production plant.

You could turn that around on any mine.

Our first plant is a proven production plant too.

There are two main types of plant are proven production plant which have been operating at least since the 1960s probably much longer and we will have both.

Some of the veins lend themselves well to a DMS plant which is cheaper to purchase, lucky win for us.

Stephen 11 tick post nice and clear.

Mafee - re spreadbet etc good point.

Kodal and Hainan moving in a way which will develop a good relationship with Mali that some of the gold majors have enjoyed for decades. The right way to go.

Neither arrogant like some companies or Dads army like others.

Ilovelithium, read the Leo Lithium RNS list from July until now, definitely in Leo Lithium's own words they have messed up big time.

Nothing at all to do with the Mali government.

Mafee, that is exactly what I took from it too.

There was a change with the DMS first, then original flotation second, this impacts many important things on site, mainly protecting the environment but also infrastructure and Kodal are ensuring that they do everything correctly.

Everything seems to be going to plan.

Croq, we are probably of a similar viewpoint but with a different style of description.

The countdown to a long stop date is merely relief of boredom and it will be one of two outcomes, news of completion or an extension so it is understandable that investors will start getting excited. Plus it is a chat board not a company board so artistic licence is allowed.

Neither party is going to let go of the resource unless it was for a large sum of money so it is highly unlikely a third outcome would occur.

Croq, you covered the phrase 'deadline' it was never a deadline. The date was to ensure that a long stop in a contract would function. If the long stop did not exist no date would have been given.

We have no idea and would never be told why those dates were selected, there could be any number of external reasons for those.

Painless, I can understand your frustration.

However it is in my opinion best that they send no communications at present.

With the mining code update recently released and the jumble of problems, mainly of their own making at Leo Lithium anything in writing or spoken word is likely to be the over scrutinised.

The decrees for the mining code as far as I am aware have not yet been released.

Our time will arrive.

Accion, even though it has no relevance directly to us, the ore rule element to stop the current gold ore tax avoidance, will be applied to existing licences. That is the point of that particular legislation, they are also potentially going to recover some tax from those moving gold ore.

Leo Lithium is creating the problem, they are caught up in the ore rules, even though theirs is lithium not gold ore.

But outsiders are then mixing Leo Lithium's apparant tax and royalty submission errors and somehow connecting those to the mining code, when clearly they are unconnected.

Leo has messed up big time, it looks like it may cost them a fortune.

They do not appear to have processed their tax concessions correctly, this looks like it could cost them around 60m dollars.

They did not set up the government's 10% royalty, it appears they only submitted the paperwork after the government communication and yet they were ready to ship, and sell ore.

Ore will be retrospective application in the 2023 mining code or it would not work as legislation to fill a loophole left in the 2019 mining code.

I suggest you read a breakdown of the 2019 mining code, then the 2023 mining code and it all makes sense.

Nothing wrong with the new mining code, but Leo look like they messed up big time and will be lucky to rescue their money from the tax office.

In this country or the EU they would not get it back. Procedure has to be followed.

Manks you need to read that RNS again. You got it totally wrong.

Leo Lithium is suspended awaiting an announcement regarding correspondence from the Mali Government AND application of the 2023 mining code.

Look at all the major mining companies operating in Mali and none have even sent a communication regarding the 2023 mining code.